Google Is Officially Banning Payday Loan Adverts

'This ban puts payday loans in their rightful place.'

Google has announced that it will no longer be showing payday loan adverts on its search results.

This is the first time that Google has announced a global ban on adverts of a particular category of financial services and is being hailed by civil rights advocates as an important first step in protecting the vulnerable.

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The global ban means that any payday loan company that demands payment within 60 days will be banned, while in the US the search engine is taking an even stronger stance by banning any ad for a loan with an APR of 36 per cent of higher.